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Another Quick Budgeting Question

November 19th, 2018 at 09:34 am

In the event that you use zero-based budgeting like Every Dollar, where do you sweep your remaining funds to?

In the event that you use a YNAB approach, do you let the amounts remaining fund for the future month or do you add the monthly budgeted amount and carry it forward?

These may seem like really simple questions, and I have realized that I've never been a budgeter. I've been a tracker. Just trying to retrain my thinking and adopt better habits.

Thanks for your feedback and hand-holding!

6 Responses to “Another Quick Budgeting Question”

  1. creditcardfree Says:

    I use YNAB and for everyday categories I zero each one out at month end...nothing extra moves forward. However, for savings type categories, short and long term, those are added to and the balance moves forward. Clothing is one I rarely zero out, only because I've learned it's a hard one to budget for. I've found an average and add that into in monthly. Some months we don't spend it all and I let it move forward, other months I spend the forward balance, the monthly add in amount and more...so that extra has to come from somewhere else. No month is ever the same...except fixed expenses. The longer you do it the more you start to see trends though. Smile
    Whichever system you go with know that it won't be perfect the first few months, until you get the hang of it. Just do your best and tweak it as you can.

  2. Petunia 100 Says:

    I do use a budget; at the moment it isn't really zero based as I have more going out than coming in. But under normal circumstances, I have a target number in my checking account. For example, 1k. At the end of the month when everything is paid, I "sweep" the extra away and start the next month with 1k.

    Where it gets "swept" changes. I might be focusing on saving for X, or on eliminating a debt. Whatever my current focus might be, that is where it goes.

  3. ceejay74 Says:

    I do my own manual budget spreadsheet that I call a "future checkbook": it shows current checking account balance, income and outgo predicted for the next month or two, and ends with a $0 dollar amount. In the event I go over budget in an area, I either make a note that I "owe" that money in the next time I have some extra money, or I take it out of another category.

    I have a "budget surplus/deficit" line item. If I have extra funds, I apply them to that. It's kind of a slush fund I can take from if needed.

  4. crazyliblady Says:

    I do not use a budgeting app, but I do have a budget. Any extra I have on the day before payday, I make a line item in the checkbook to pay it on a debt, usually, but I hope for that to be allocated to savings in the future.

  5. laceshawl Says:

    I use Everydollar and I make all my categories sinking funds. Any remaining money is carried over to the next month. If the balance gets high enough I just stop putting any money in for a while.

  6. frugaltexan75 Says:

    I use YNAB. It depends - if it's an expense category, I usually have it budgeted to the penny. In the case of water or phone which can vary, I zero them out and move to the Oops fund. Smile Everything else pretty much just rolls over into the next month.

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